![]() ![]() Increasingly, investors are electing to use private vaults and depositories. Keep in mind banks do not insure the box contents if they are stolen or destroyed, placing the burden on the customer to obtain coverage. With 6,500 banks across the country, investors should assess the situation and their local branch before renting a box. Many banks are de-emphasizing their box services, not investing in modern technology to authenticate the identities of those accessing the box, and reducing the number of staff and training given to those who oversee the safe deposit box service. For some, the possible risk of asset seizure makes this an untenable option. Even when investors have the best safe money can buy, a quality, off-premises facility is always the better choice according to the FBI, state law enforcement, FEMA and even the Red Cross.įor many investors, a safe deposit box at a bank or credit union represents a convenient storage solution. Assets are forty times more likely to be stolen or damaged there, as compared to a commercial vault. Statistics don’t lie investors should not store assets at their home or business. The type of storage selected can dramatically impact the risk and ability to recover if there is a loss. ![]() Evaluating the available options can be intimidating. ![]() The difficult part for investors is what to do with the gold they are purchasing. Today, buying gold and other precious metals is easy with the number of on-line dealers and retail facilities competing for business. ![]()
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